More Americans canceling satellite or cable service in favor of streaming

NOW: More Americans canceling satellite or cable service in favor of streaming

(CBS 58) -- More and more people are cutting the cord. 

The number of people canceling their satellite or cable service is expected to jump more than 30% this year. 

"Everyone that we've told that we've done this, they're fascinated."

Lisa and Ken Sharp are like millions of Americans turning away from traditional cable or satellite and logging on to streaming services. 

"We barely were using anything that we were paying for," Lisa Sharp said. 

Now, they just pay for internet and stream Netflix. It saved the Sharps more than $100 off their monthly bill. 

Research firm E-Marketer says the number of cord-cutters will reach 33 million people by the end of the year, many of them turning to services that charge around $40 a month. 

"So these are the DirecTV Now, Sling TV, YouTube TV, Hulu with Live TV; and these are really designed to replicate what you would have with cable service but via streaming," said Jim Willcox, Senior Electronics Editor for Consumer Reports. 

Some of these services even offer network stations and if they don't there is always the old school way of getting network with an antenna. 

"The price is pretty cheap, you know you just have a one-time fee of anywhere from $10 to $80 for an indoor antenna. A lot of times the signals are actually better if you can get them using an antenna because they're less compressed," Willcox said. 

But cord cutting doesn't mean people are consuming less media. More than 147 million Americans watch Netflix at least once a month and Amazon Prime and Hulu are gaining members. 

It's not the first time streaming services have changed the industry. Blockbuster Video used to have 9,000 stores nationwide until streaming hit. Now, there is only one store left in Bend, Oregon. 

Whether streaming will put cable out of business like Blockbuster is yet to be seen, but right now, they're gaining momentum. 

The number of people who have cut the cord is expected to reach 55 million by 2022. 

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